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Happycoin.club - Economist Timothy Peterson answered questions about how high the bitcoin exchange rate will rise and when the bullish trend will end.
Based on historical data, it can be said that the current bullish trend will end in January 2025. Taking into account the speed of Bitcoin's popularity and previous pullbacks, the peak value of the coin during this cycle will range from $175,000 to $350,000, wrote Peterson.
Chart showing Bitcoin price retracements after reaching historical highs (0%)
However, analyst and trader, known by the pseudonym Crypto Caesar, believes that the current Bitcoin market cycle will be shorter than previous ones and the price of BTC will reach its maximum level as early as October 2024. He explains his position by the fact that this year the Bitcoin rate reached a historical high before the halving event in April.
Cycles in the Bitcoin market on the chart published by Crypto Caesar
Selling when market is growing, and holding when market drops. We never see +78% for a position, but -78% every crash.